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Rediff News  All News  » Business » Titan eyes Rs 3,000 cr business

Titan eyes Rs 3,000 cr business

October 19, 2007 02:42 IST

Titan Industries Ltd, leading manufacturer and retailer of watches and jewellery, is anticipating a business of over Rs 3,000 crore by the end of this financial year.

"The results of the first six months have been very encouraging and the expectations are high," regional sales manager (RSM)-- South, Vijesh Rajan, said in Mysore.

He said after the launch of the Titan Heritage collection, featuring designer watches reflecting monuments of India, on Wednesday that the company had a marketshare of 70 per cent.

It saw a turnover of Rs 2,136 crore for the year ended 2006-07. Its watches were sold in 13 countries and the export of the Heritage collection, for which Mysore is the first launching city in Karnataka, will also be looked into.

After the metros, Titan is now exploring the tier-2 cities for its watches as their popularity in cities like Mysore and Coimbatore is fast growing. The Mysore market is expanding in the range of 40-50 per cent.

This apart, the company thought it appropriate to launch its Heritage collection in the heritage city of  Mysore because of its heritage significance and to coincide with Dasara.

Rajan said Titan had launched the Heritage collection in the range of Rs 3,750 to Rs 8,000 at select showrooms across the country.

A BS Reporter in Mysore